On May 6, 2021, the English High Court of Justice sanctioned a scheme of arrangement proposed by Aviva, Aviva European Services Limited (AESL), and Sterling Holdco in relation to the transfer of the entire issued shares in Amé to Sterling Holdco. The scheme of arrangement aimed to facilitate a transfer of the entire issued share capital of Amé to Sterling Holdco.
Prior to the implementation of the scheme of arrangement, Aviva held a 66% stake in Amé through AESL. The successful implementation of the scheme meant that Amé, its Subsidiaries, and the applicable Employees, as defined under the scheme, would all be transferred to Sterling Holdco. This strategic move aimed to consolidate the ownership structure and operational management of Amé under Sterling Holdco.
The scheme of arrangement received widespread support from shareholders, with 99.98% of the votes cast at the Court Meeting in favor of the resolution. The overwhelming approval signaled the confidence and approval of the shareholders in the proposed arrangement and demonstrated a united front in supporting the transfer.
The effective implementation of the scheme of arrangement is a significant milestone for Aviva and all parties involved in the process. The successful completion of the transfer of shares in Amé to Sterling Holdco marks a strategic and planned transition that enhances operational efficiency and strengthens the ownership structure of Amé under the new entity.
With the scheme of arrangement now effective, the transfer of the entire issued share capital of Amé to Sterling Holdco is officially completed. The careful planning and execution of this scheme demonstrates a proactive approach by Aviva and its affiliated companies in streamlining operations, optimizing resources, and ensuring a smooth transition for all stakeholders involved.
In conclusion, the successful implementation of the scheme of arrangement represents a pivotal moment in the history of Amé and its corporate structure. The overwhelming support from shareholders and the effective execution of the transfer highlight the commitment of Aviva, AESL, and Sterling Holdco to driving strategic growth and enhancing operational efficiencies within their organizations. The scheme of arrangement sets the stage for a new chapter in the journey of Amé under the ownership of Sterling Holdco, laying a solid foundation for continued success and growth in the future.
